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Forex: USD/JPY falls to 90.70 following FOMC statement

Wed, Nov 4 2009, 20:19 GMT
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FXstreet.com (Córdoba) – The Dollar pulled back against the Yen to the 90.70 zone. USD/JPY jumped to 91.30 (intra-day high) minutes after the FED’s decision but then retreated falling below 91.00 to 90.70. Dollar is still up for the day against the Yen as it trades 0.50% above today’s opening price.

Valeria Bednarik, Fxstreet.com collaborator, affirms in the current FXstreet.com FED Interest Rates Decision Live Coverage: "Japanese yen, the other safe haven remains in range between 90.70/91.00 area, despite reaching an intraday high of 91.30. At this point, I do believe that no much more movements are going to be seen today, as investors will be reluctant to play strong cards ahead of tomorrow's data “

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

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